Categories: Technical analysis

Google Wave Analysis 17 August 2023

– Google reversed from support level 127.90

– Likely to rise to resistance level 132.50

Google recently reversed up from the pivotal support level 127.90 (former strong resistance from the start of June), coinciding with the 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from July.

The upward reversal from the support level 127.90 stopped the previous short-term ABC correction ii.

Given the clear daily uptrend, Google can be expected to rise further toward the next resistance level 132.50 (top of the previous minor impulse wave 1).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: google

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